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84006240
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84006240
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Last modified
11/21/2008 12:01:59 AM
Creation date
11/21/2008 12:01:59 AM
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DEEDS
Inst Number
84006240
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<br />r <br /> <br />84.---J 006240 <br /> <br />r <br /> <br />9. IJ'!,~ctipn$' Beneficiary, or its aqents, representa... <br />tives or wor 'en, are authorized to enter at any reasOnable<ttme <br />upon or in any part of the property for the purpose ofinspectlnq <br />the same and for the purpose of performing any of the' acts: it is <br />authorized to perform under the terms of any loan instr~nt:s <br />executed by Trustor. <br /> <br />10. Transfer of Pro~rty. Trustor shall have the right to/ <br />sell all or any portion of the real estate described hereino1l <br />contract and subject to this Deed of Trust, it being understood't <br />however, that any such conveyance or contract to sonvey shall not <br />relieve the Trustor of any obligations to be perrormed'in accord" <br />ance herewith or in respect to the Deed of Trust Note~ <br /> <br />11. Events of Default. Any of the following events shall <br />be deemed an event of default hereunder: ' <br /> <br /> <br />(al Trustor shall have failed to make <br />payment of any installment of interest, <br />principal or principal i"~:: interest or any <br />other sums see-urea har '':'' ,qhe;"\ due, <br /> <br /> <br />(bl There has occurred a breach of or <br />default under any term, covenant, agreement, <br />condition, provision, representation or <br />warranty contained in this Deed of Trust, the <br />note or any other loan instrument secured <br />hereby: <br /> <br />(cl There has been a default by the <br />Trustor in the payment of any prior or subse- <br />quent lien or enc~brance in respect to all <br />or any part of the property: <br /> <br />(dl Trustor shall file a voluntary <br />petition in bankruptcy or shall be adjudi- <br />cated bankrupt or insolvent, or shall make an <br />assignment for the benefit of creditors in <br />respect to the property: or an action to <br />enforce any lien or encumbrance or judgments <br />against the property is commenced. <br /> <br />12. Acceleration Upon Default. In the event of any default, <br />Beneficiary may declareal1 indebtedness secured hereby <br />to be due and payable, and the same shall thereupon become due <br />and payable without any presentment, demand, protest or notice of <br />any kir.d. Thereafter, Beneficiary may: <br /> <br />l <br /> <br />(al either in person or by agent, with <br />or without bringing any action or proceeding, <br />or by receiver appointed by a court and with- <br />out regard to the adequacy of any secur i ty , <br />enter upon and take possession of the prop- <br />erty, or any part thereof, in its own name or <br />in the name of the Trustee, and do any acts <br />which it deems ilecessary and desirable to <br />preserve the value, marketability or rent- <br />ability of the property, or part thereof or <br />interest therein, increase the income there- <br />f::om o.r .p~o.tect the s~curi t;.y ~ereof and, <br />wl.thout:;; l::oJtl.ng possess~on OJ: tne property, <br />sue for or o~~erwise collect the rents, <br />issues and profits thereof, including those <br />past due and unpaid, and apply the sa,me, less <br />costs and expenses of operation and collec- <br />tion, including attorney fees, upon any <br />indebtedness secured hereby, all in such <br />order a$ Beneficiary may determine. The <br />entering upon and taking possession or the <br />trust estate, the collection of such rents, <br />issues and profits and application thereof as <br />aforesaid shall not cure or waive any default <br />-3- <br />
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